Internet service provider Freeserve is creating an in-house
investor relations department in a bid to build stronger ties with
investors, the City and the financial press.
Freeserve is the largest ISP to have floated on the London Stock
Since its summer flotation, share have fallen below what they were
originally offered at, because the market has become nervous about the
profitability of the internet sector.
As a result of its fluctuating share price, Freeserve, which is part of
the Dixons Group, made the decision to appoint an IR director and
another member of staff to build confidence with investors.
Freeserve is keen to make appointments within the next five weeks. In
the meantime, its financial PR agency Citigate Dewe Rogerson has
seconded manager Elena Shalneva to help set-up the IR department and
oversee its first financial results announcement next Tuesday.
Shalneva said: ’Freeserve is taking IR and communications very
seriously. It is looking for very senior qualified people.’
In advance of Freeserve’s results, Citigate has been confirmed as its
financial PR agency. The internet provider is believed to have talked to
the Maitland Consultancy, the Hogarth Partnership and Finsbury, before
The agency was originally appointed on a short term retainer in May (PR
Week, 21 May) to handle PR work surrounding the flotation.
Lesley Smith, corporate affairs director for Dixons Group, said:
’Citigate Dewe Rogerson was originally appointed for the duration of the
flotation, however it has now been appointed to handle on-going
Once appointed the director of investor relations will report directly
to Nicholas Backhouse, the chief financial officer for Freeserve, and
will work alongside Smith.